ASX

Today's growth figures are unlikely to force the RBA into any easing action, but it has been enough to weigh on the Australian dollar and ASX 200. And this could allow EUR/AUD to continue higher after a 4-day retracement.

ASX 200 futures (SPI 200) were allowed to print a fresh record high on a daily-close basis. Yet 8500 remains a clear level of resistance, and one which prompted a potential bearish reversal pattern.

Wall Street indices took the relatively rare step of ignoring its tendency to rally ahead of the Thanksgiving holiday, and price action suggests there could be deeper pullback. Which may not bode so well for ASX 200 bulls who may be sleeping behind their wheel around a record high.

Welcome to Friday! Bitcoin inches closer to $100K, with spot and futures markets hitting record highs. Gold breaks above its 50DMA, bolstering bullish picture, while crude oil builds momentum despite lighter volumes. ASX 200 futures remain a buy-on-dips play, edging closer to record highs. EUR/USD stays under pressure, hitting fresh 2024 lows.

Wall Street indices displayed their first signs of doubt following Trump’s election victory last week, with the Dow leading losses on Tuesday. Weak sentiment from China has also weighed on ASX futures overnight.

A brutal day for risk sent Wall Street indices lower on Thursday, but support levels and the tendency for stocks to rise on the week of a US election could help the S&P 500 and ASX 200. Assuming the wheels don't truly fall off first.

A potential bearish reversal pattern suggests a drop to 7900 for the ASX, but only if it clears a support cluster first. China's A50 still looks solid above 13k to my eyes, despite yesterday's selloff.

Australia’s Q3 inflation report is the sole remaining domestic data release that could meaningfully influence the outlook for interest rate settings from the Reserve Bank of Australia (RBA) this year, making Wednesday’s report a key event for AUD/USD and ASX 200 SPI futures traders.

The bounce for the ASX nay end up being short lived, but price action suggests bulls might sneak in a 'last hurrah' over the near term. Meanwhile the China A50 continues to hold its ground and hint at a bounce of its own.

The USD and yields continued to surge following the release of the Fed's beige book. That, alongside a fast-approaching and tight US election race, is prompting Wall Street traders to reassess their exposure. Yet the fallout on ASX 200 futures was limited, and while AUD/JPY might retrace lower we still have an initial target around 102.

Thin trade on Monday allowed the USD to sneak in a 10-week high, prompting USD/JPY to square up to 150 once more. The ASX 200 might even reach a record high of its own today, with SPI futures tracking Wall Street higher overnight.